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Earnings Per Common Share
 12 Months Ended
Sep. 24, 2011
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

8. Earnings Per Common Share

 

The Company calculates earnings per share using the two-class method in accordance with FASB ASC Topic 260.

 

The two-class method of computing basic earnings per share for each period reflects the cash dividends paid per share for each class of stock, plus the amount of allocated undistributed earnings per share computed using the participation percentage which reflects the dividend rights of each class of stock. Diluted earnings per share is calculated assuming the conversion of all shares of Class B Common Stock to shares of Class A Common Stock on a share-for-share basis. The tables below reconcile the numerators and denominators of basic and diluted earnings per share for current and prior periods.

     Year Ended
September 24, 2011		  
     Class A      Class B  

Numerator: Allocated net income

      

Net income allocated, basic

    $ 21,540,808       $ 17,518,702   

Conversion of Class B to Class A shares

      17,518,702         —     
  

 

 

     

 

 

  

Net income allocated, diluted

    $ 39,059,510       $ 17,518,702   
  

 

 

     

 

 

  

Denominator: Weighted average shares outstanding

      

Weighted average shares outstanding, basic

      12,905,408         11,542,049   

Conversion of Class B to Class A shares

      11,542,049         —     
  

 

 

     

 

 

  

Weighted average shares outstanding, diluted

      24,447,457         11,542,049   
  

 

 

     

 

 

  

Earnings per share

      

Basic

    $ 1.67       $ 1.52   
  

 

 

     

 

 

  

Diluted

    $ 1.60       $ 1.52   
  

 

 

     

 

 

  

     Year Ended
September 25, 2010		      Year Ended
September 26, 2009		  
     Class A      Class B      Class A      Class B  

Numerator: Allocated net income

            

Net income allocated, basic

    $ 16,961,816       $ 13,880,373       $ 15,296,032       $ 12,637,517   

Conversion of Class B to Class A shares

      13,880,373         —           12,637,517         —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income allocated, diluted

    $ 30,842,189       $ 13,880,373       $ 27,933,549       $ 12,637,517   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator: Weighted average shares outstanding

            

Weighted average shares outstanding, basic

      12,888,828         11,601,562         12,844,927         11,667,332   

Conversion of Class B to Class A shares

      11,601,562         —           11,667,332         —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average shares outstanding, diluted

      24,490,390         11,601,562         24,512,259         11,667,332   
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings per share

            

Basic

    $ 1.32       $ 1.20       $ 1.19       $ 1.08   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted

    $ 1.26       $ 1.20       $ 1.14       $ 1.08